Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA)
A Decade's Journey from "Deregulation" to "Supervisory Reregulation": The Financial Institutions Reform, Recovery, and Enforcement Act of 1989
Daniel B. Gail and Joseph J. Norton, 45(3): 1103–1228 (May 1990)
The recently enacted FIRREA legislation constitutes the most significant legislative restructuring of U.S. "banking institutions" and deposit insurance apparatus in over fifty years. The Act will effect a consolidation of the U.S. thrift industry and sets the stage for the "supervisory reregulation" of all U.S. banking institutions (including commercial banks).
Financing the Bailout of the Thrift Crisis: Workings of the Financing Corporation and the Resolution Funding Corporation
Marirose K. Lescher and Merwin A. Mace III, 46(2): 507–35 (Feb. 1991)
This Article describes the structure and operations of the Financing Corporation and the Resolution Funding Corporation, two government corporations created to raise funds in the public capital markets to resolve insolvent thrifts. The Article questions the efficacy of this bailout mechanism established by the Financial Institutions Reform, Recovery and Enforcement Act of 1989, both in terms of the use of off-budget corporations to fund the thrift resolutions and the sufficiency of funds identified for the thrift industry bailout.